Blackboxstocks Inc. (Nasdaq: BLBX) announced the successful closing of its merger with REalloys Inc., effective after market close on February 24, 2026. The combined company will operate under the name REalloys Inc. and its common stock is expected to begin trading on the Nasdaq Capital Market under the ticker symbol “ALOY” on February 25, 2026.
The transaction marks the public market debut of a vertically integrated North American heavy rare earth platform focused on establishing a secure, zero-China nexus supply chain aligned with U.S. defense procurement priorities. As part of the merger, Blackboxstocks board authorized a dividend of one contingent value right (CVR) per share, payable immediately prior to closing, representing rights to cash payments from certain transactions involving Blackbox.io Inc., a subsidiary that conducted historical operations.
Following the closing, REalloys is positioned to advance its strategic objective of becoming the largest producer of heavy rare earth oxides and metals outside of China by the first half of 2027. The company believes it holds among the most advanced commercial-scale heavy rare earth separation and metallization assets outside of China. Key platform attributes include scaling oxide separation and metallization capacity to serve defense, advanced manufacturing, and protected industrial markets.
The company is positioned to operate a zero-China nexus supply chain aligned with anticipated 2027 U.S. defense procurement restrictions and currently services federal logistics and procurement channels supporting the Defense Industrial Base. Its advanced execution profile leverages existing infrastructure with phased expansion plans, comparatively limited incremental capital requirements, and reduced permitting risk relative to greenfield development projects. REalloys is designed to be feedstock-agnostic, utilizing allied and domestic sources to mitigate supply concentration risk.
REalloys enters the public markets at a pivotal time as geopolitical considerations, critical mineral policy, and national security priorities converge around the need for dependable, China-independent heavy rare earth capability. The company’s integrated mine-to-magnet strategy encompasses upstream, midstream, and downstream operations. Upstream, it includes the 100% owned Hoidas Lake rare earth asset in Saskatchewan, a strategic partnership with U.S. government-backed Mission Critical Materials, a diversified portfolio of allied upstream feedstock providers, and recycling partnerships. Midstream, it involves expansion of North American separation, refining, and metallization capabilities in partnership with the Saskatchewan Research Council. Downstream, it includes the 100% owned PMT Critical Metals facility in Ohio, the only advanced heavy rare earth metallization facility in the continental U.S., serving federal logistics and procurement agencies supporting the U.S. Department of Defense, Department of Energy, and NASA.
For more information, visit www.realloys.com.
